Rachel Shechtman

Macy's acquired Story, a highly innovative retail store in downtown Manhattan, on May 2, 2018. It's only one store, so it's not a huge deal. But the significance of it is big because of what Story is. If you're not familiar with it, Story is a unique retail concept whose founder is Rachel Shechtman. The idea is to sell things in the store, of course, but it's more than that. About every three months, everything in the store goes away, and entirely new inventory is brought in. More than that, every new cycle has a new theme. Themes they've done recently include: Love, Home For The Holidays, Beauty and Remember When. The products in the store are consistent with the theme, so the inventory speaks to the customer with one voice. The change in the store makes it fun to keep coming back; it's retail as entertainment.  It's not only products that generate revenue for Story. Story partners with companies that sponsor the themes. Sponsors have included Intel and American Express. Advertising on the wall in the store is consistent with the theme. Among other things, the advertising creates an additional stream of revenue for Story.  The sales associates at Story are very well trained. They know about the theme; they know how to promote it and work it into your store visit without being pushy. Story is fun to be in and in many ways is what retail has to become. 

Rachel is a frequent speaker on retail and has been recognized by the media including Fast Company’s 100 Most Creative People in Business, Fortune Magazine’s 40 Under 40, Crain’s Under 40 and was named Ad Age’s 50 Most Creative. Rachel remains a supporter of emerging business models, serving on the advisory boards of Birchbox, Girlboss, the Director's Council at Wharton’s Baker Retail Center and the American Express OPEN Digital Advisory Board. In 2016, Rachel joined the Board of Directors of National Retail Federation (NRF). Read Less ^